Paramount and Warner Bros. Discovery To Operate Under Skydance Name

Paramount and Warner Bros. Discovery are set to operate under the Skydance banner once their merger officially closes on October 6. Skydance CEO David Ellison announced Friday that his production company will lend its name to the newly combined media conglomerate.

The roughly $110 billion deal will unite two major Hollywood studios, the streaming services Paramount+ and HBO Max, and networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network. Skydance will also gain control of franchises such as "The Lord of the Rings," "Game of Thrones," the DC Universe, and "Yellowstone."

The merger followed a prolonged corporate battle. While Netflix had previously agreed to acquire Warner Bros.' streaming and studio businesses, the broader Paramount deal moved forward first. Concerns over reduced competition and potential harm to consumers and workers were addressed through a settlement approved by a judge, following challenges from twelve states.

Ellison has stated that the Paramount and Warner Bros. brands will remain central to the combined entity. According to the company's statement, the new name provides the company with "an identity of its own" while allowing both studios to "remain in the spotlight," aiming to preserve their prestige and market standing.